EOS Lip Balm – A Step Ahead
We all have shopped for a product to soothe chapped, dry lips. We have been doing it for years, looking for the familiar tube of Chapstick or something similar. Seven years ago, EOS hit the market with their orb shaped lip balm, pushing the competition right off the shelves.
Now instead of cherry, mint or the medicinal flavor of plain Chapstick, we can chose from a number of brightly colored orbs in flavors like honeydew and grapefruit, https://www.walmart.com/ip/Eos-Sweet-Mint-Lip-Balm-0.25-oz/15136069. Paparazzi were catching celebrities like Miley Cyrus and Christina Aguilera pulling the EOS orbs from makeup bags and purses. Magazines like Allure were amazed with the product. It became a huge hit very quickly.
EOS – Evolution of Smooth honored Fast Company with an exclusive interview discussing their business strategy. Wanting to change things in the beauty aisle, the founders of EOS thought lip balm was a product that could use a face lift. They thought everyone in this particular category had gotten lazy – a majority of the products resembled that of the predecessors from 100 years ago. With this thought in mind, EOS lip balm was created, but not as a unisex product. This product would be packaged and marketed primarily for women. EOS founders convinced a buyer from Walgreen’s to sell their products, and now the colorful cylinders of lip balm are at many major retails stores such as Kohls, Target and even Ulta.
EOS is a true startup. The founders used their own money, purchased their own equipment and manufacture their own products. This keeps their prices comparable to current products on the market. Also, the decision to market to millennial gave EOS an opportunity to hit social media hard – YouTube, Facebook and Instagram. EOS lip balm is second only to Burt’s Bees products and sells approximately 1 million units per week. EOS is always looking for new product innovations and has already added a line of shaving creams and hand lotions.
To read the Fast Company interview in its entirety, please visit, www.fastcompany.com/3063333/startup-report/the-untold-story-of-how-lipbalm-upstart-eos-outdid-chapstick.